Completed the accounts for two listed companies


30 September is the last day to submit the audited accounts to ASX, so I managed to get them both done before the deadline. Phew.

What have I learned? Technically, firstly, I prepared the finance lease asset and liability for the first time according to the new accounting standard. When I was in uni, they talked about the change of removing all off-balance sheet leases. That day is finally coming. I was pretty good at calculating finance leases, now although the lease has a different name, I managed it well. Secondly, I learned how to value options using Black Scholes model. I knew option valuation when I was preparing CFA level 2 exam a few years ago. I understoond fixed income and options were really hard but I never understoon why people wanted to value those options. I hope it’s not too late but I understand the reason now as an accountant. This small issue also reminded me about my passion of finance, so I will pick CFA up one day.

Something not technical? Well, I once worked with auditors in the same office and heard they complaining about the clients all the time, so I know how important to co-ordinate with the auditors to meet their timeline. Given it’s the first year for me to prepare the job, rather than creating my own shedule, it’s much easier to follow their instruction. It’s strange that some people just treat auditors like a supplier, I found the auditors were quite helpful. For this job, they gave me some helpful guidance on option valuation and cash flow reconcilatio, so I can’t really say bad things about them.

I can finally add listed company year end accounts to my resume now.



I resigned from KPMG as an accountant. Now I am a free man.

I like to work for a big firm. I have to admit, once I am in, I feel it is just a job, but I know for many people it’s a dream job to work for the big four accounting firm. Yes it’s a decent job, but there are so many problems in big firms. Through the 3 years experience there, I found the management team was so comfortable with their own way to do certain things and did not want to change. I started my career in a smaller firm with an innovative leader, so in the beginning, when I joined KPMG, I tried to bring some new ideas such as the workflow management tool to the firm but it was so hard to change anything. Not just the way they do certain things, people are more restricted in big firm too. From my experience, I joined the firm as a compliance tax accountant. Despite I expressed my interest in transaction service and tax advisory several times, I had to be stuck with tax compliance with my direct partner and there was no flexibility.

At this stage, the best option for me is to take a break, not keep doing something I have no passion about. Being a law student is always good too.